Thailand Adhesive Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Thailand Adhesives and Sealants Market is Segmented by Adhesive {Technology (Water-borne, Solvent-borne, Reactive, Hot Melt, and Other Technologies) and End-user Industry (Building and Construction, Paper, Board, and Packaging, Transportation, Footwear and Leather, Healthcare, Electrical and Electronics, and Other End-user Industries)} and Sealant {Product Type (Silicone, Polyurethane, Acrylic, and Other Sealant Product Types) and End-user Industry (Building and Construction, Transportation, Healthcare, Electrical and Electronics, and Other End-user Industries)}. The market size and forecast for Thailand Adhesives and Sealants are provided in terms of revenue (USD Million) and volume (kilotons) for all the above segments.

Thailand Adhesives and Sealants Market Size

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Thailand Adhesive Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.02 %
Market Concentration High

Major Players

Thailand Adhesive Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thailand Adhesives and Sealants Market Analysis

The Thailand adhesives and sealants market was valued at more than USD 220 million and is projected to grow at a CAGR of more than 6% during the forecast period (2022-2027). 

The spread of covid-19 in the region impacted the automotive sector of the country due to long lockdowns and the shortage of raw materials in the country.

  • Over the short term, major factors driving the market studied are increasing demand from the packaging industry and shifting focus towards adhesive bonding for composite materials in the country.
  • On the flip side, stringent environmental regulations regarding VOC emissions and the negative impact of COVID-19 are hindering the market's growth.
  • Increasing demand for bio-based adhesives is expected to offer various opportunities for the market's growth over the forecast period.

Thailand Adhesives and Sealants Market Trends

This section covers the major market trends shaping the Thailand Adhesives & Sealants Market according to our research experts:

Paper, Board, and Packaging Segment to Dominate the Market

  • The packaging industry is one of the largest end-users of adhesives. Some of the applications include bags, cigarettes and filters, cartons' side seams and closures, composite containers and tubes, disposables, envelopes, flexible packaging, products, labels/signs/decals, specialty packaging, and corrugated boards, among others. Paper board printing houses use adhesives for books.
  • There are around 2,000 printing houses in Thailand, most of which are small- to medium-scale. Large-scale establishments account for less than 1% of the total number. Thousands of establishments are involved in the packaging industry.
  • The food processing sector is the largest user of flexible packaging, accounting for more than 50% of the total demand.
  • The growing demand for corrugated packaging in the country is mainly due to the continued and increasing demand for packaged food and beverages.
  • Additionally, there is a considerable increase in the demand for small-scale folding cartons and packaging from the beauty and personal care industry.According to export.gov, Thailand's beauty and personal care products market is expected to reach USD 8.0 billion by 2022. Such growth in the demand for adhesives used in expensive packaging, from beauty and cosmetics industry, is driving the studied market.
  • Overall, the demand growth for adhesives from the packaging industry is expected to be moderate to high during the forecast period
Thailand Adhesive Market : Revenue (%), by end-user industry, 2021

Silicone Segment to Dominate the Sealants Market

  • Silicones are versatile polymers. These are designed to provide permanent and temporary bonding to surfaces, such as glass, metal, and stone. Primers are required for the optimal adhesion of silicone sealants, although primers are often not necessary.
  • The silicone sealants work effectively in harsh environments, across a wide temperature range, in situations involving abrasion, and under climatic changes. Hence, they are water-, chemical-, and temperature-resistant, flexible, and deliver outstanding performance.
  • The major end-user industries for these sealants are electronics and electrical, automotive, aerospace, and building and construction. Some of the most common uses of silicone adhesives are for basic repairs around the house.
  • The demand for these sealants is expected to increase in the electronic automotive sector, construction, and electronic devices, as silicone is used to seal cables and sensors into place, and due to its property to withstand extreme temperatures. Furthermore, in the building and construction sector, its usage is increasing as silicone sealants can be used even in extreme weather conditions.
  • Thus, from the factors mentioned above, the demand for silicone sealants are expected to grow over the forecast period.
Thailand Adhesive Market : Revenue (%), by product type, 2021

Thailand Adhesives and Sealants Industry Overview

Thailand adhesives and sealants market is consolidated in terms of revenue. The top five players account for a combined share of around 70%, making the market highly competitive. However, the presence of other local players is creating a competitive environment in the market. The major companies include Henkel (Thailand) Ltd, Selic Corp Public Company Limited, Covestro AG, Bostik (Arkem Group), and H.B. Fuller (Thailand) Co. Ltd., among others.

Thailand Adhesives and Sealants Market Leaders

  1. Henkel (Thailand) Ltd

  2. Selic Corp Public Company Limited

  3. H.B. Fuller (Thailand) Co. Ltd

  4. Covestro AG

  5. Bostik (Arkema Group)

*Disclaimer: Major Players sorted in no particular order

Thailand Adhesive Market Concentration
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Thailand Adhesives and Sealants Market News

  • In August 2020, WACKER started a partnership with H.M. Royal company to include silicones for medical applications. SILPURAN portfolio consists of specifically designed applications, such as wound dressings, medical adhesives, gels, and others.
  • In August 2020, Momentive Performance Materials, a leading supplier of silicone-based and other specialty chemical products, announced that as part of a new business plan, it entered into an agreement to sell its Consumer Sealants division to Henkel, a global manufacturer of adhesives, detergents, and other consumer products.

Thailand Adhesives and Sealants Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Packaging Industry

      2. 4.1.2 Shifting Focus Towards Adhesive Bonding for Composite Materials

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations Regarding VOC Emissions

      2. 4.2.2 COVID-19 Impact

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Adhesives

      1. 5.1.1 Technology

        1. 5.1.1.1 Water-borne

          1. 5.1.1.1.1 Acrylics

          2. 5.1.1.1.2 Polyvinyl Acetate (PVA) Emulsion

          3. 5.1.1.1.3 Ethylene Vinyl Acetate (EVA) Emulsion

          4. 5.1.1.1.4 Other Water-borne Adhesives

        2. 5.1.1.2 Solvent-borne

          1. 5.1.1.2.1 Styrene-butadiene Rubber (SBR)

          2. 5.1.1.2.2 Chloroprene Rubber

          3. 5.1.1.2.3 Poly Acrylate (PA)

          4. 5.1.1.2.4 Other Solvent-borne Adhesives

        3. 5.1.1.3 Reactive

          1. 5.1.1.3.1 Epoxy

          2. 5.1.1.3.2 Cyanoacrylate

          3. 5.1.1.3.3 Silicone

          4. 5.1.1.3.4 Polyurethane

          5. 5.1.1.3.5 Other Reactive Adhesives

        4. 5.1.1.4 Hot-Melt

          1. 5.1.1.4.1 Thermoplastic Polyurethane

          2. 5.1.1.4.2 Ethylene Vinyl Acetate

          3. 5.1.1.4.3 Styrenic-butadiene Copolymers

          4. 5.1.1.4.4 Other Hot-melt Adhesives

        5. 5.1.1.5 Other Adhesive Technologies

      2. 5.1.2 End-user Industry

        1. 5.1.2.1 Buildings and Construction

        2. 5.1.2.2 Paper, Board, and Packaging

        3. 5.1.2.3 Transportation

        4. 5.1.2.4 Footwear and Leather

        5. 5.1.2.5 Healthcare

        6. 5.1.2.6 Electrical and Electronics

        7. 5.1.2.7 Other End-user Industries

    2. 5.2 Sealants

      1. 5.2.1 Product Type

        1. 5.2.1.1 Silicone

        2. 5.2.1.2 Polyurethane

        3. 5.2.1.3 Acrylic

        4. 5.2.1.4 Other Sealant Product Types

      2. 5.2.2 End-user Industry

        1. 5.2.2.1 Buildings and Construction

        2. 5.2.2.2 Transportation

        3. 5.2.2.3 Healthcare

        4. 5.2.2.4 Electrical and Electronics

        5. 5.2.2.5 Other End-user Industries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Anabond Limited

      3. 6.4.3 AVERY DENNISON CORPORATION

      4. 6.4.4 Beardow Adams

      5. 6.4.5 Bond Chemicals Company Limited

      6. 6.4.6 Bostik

      7. 6.4.7 CEMEDINE Co. Ltd

      8. 6.4.8 Covestro AG

      9. 6.4.9 Dow

      10. 6.4.10 DUNLOP ADHESIVES (THAILAND) CO. LTD

      11. 6.4.11 H.B. Fuller (Thailand) Co. Ltd

      12. 6.4.12 Henkel (Thailand) Ltd

      13. 6.4.13 Huntsman International LLC

      14. 6.4.14 Jowat (Thailand) Co. Ltd

      15. 6.4.15 Lord Corporation (Parker Hannifin Corp)

      16. 6.4.16 MORESCO (THAILAND) CO. LTD

      17. 6.4.17 Selic Corp. Public Company Limited

      18. 6.4.18 Siam Industry Adhesive Tapes Co. Ltd

      19. 6.4.19 Sika Thailand

      20. 6.4.20 Star Bond (Thailand) Company Limited

      21. 6.4.21 Thai Mitsui Specialty Chemicals Co. Ltd

      22. 6.4.22 TOAGOSEI (THAILAND) CO. LTD

      23. 6.4.23 Wacker Chemie AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing demand for Bio-based Adhesives

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Thailand Adhesives and Sealants Industry Segmentation

The Thailand adhesives and sealants market is segmented by Adhesives and Sealants. The adhesives market is segmented by technology and end-user industry. By technology, the market is segmented by Water-borne, Solvent-borne, Reactive, Hot Melt, and Other Technologies. On the basis of end-user industry, the market is segmented by (Building and Construction, Paper, Board, and Packaging, Transportation, Footwear and Leather, Healthcare, Electrical and Electronics, and Other End-user Industries. Sealants are segmented on the basis of product type and end-user industry. By product type, the market is segmented by Silicone, Polyurethane, Acrylic, and Other Sealant Product Types. Based on end-user industry, the market is segmented by Building and Construction, Transportation, Healthcare, Electrical and Electronics, and Other End-user Industries. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million) and volume (kilotons).

Adhesives
Technology
Water-borne
Acrylics
Polyvinyl Acetate (PVA) Emulsion
Ethylene Vinyl Acetate (EVA) Emulsion
Other Water-borne Adhesives
Solvent-borne
Styrene-butadiene Rubber (SBR)
Chloroprene Rubber
Poly Acrylate (PA)
Other Solvent-borne Adhesives
Reactive
Epoxy
Cyanoacrylate
Silicone
Polyurethane
Other Reactive Adhesives
Hot-Melt
Thermoplastic Polyurethane
Ethylene Vinyl Acetate
Styrenic-butadiene Copolymers
Other Hot-melt Adhesives
Other Adhesive Technologies
End-user Industry
Buildings and Construction
Paper, Board, and Packaging
Transportation
Footwear and Leather
Healthcare
Electrical and Electronics
Other End-user Industries
Sealants
Product Type
Silicone
Polyurethane
Acrylic
Other Sealant Product Types
End-user Industry
Buildings and Construction
Transportation
Healthcare
Electrical and Electronics
Other End-user Industries
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Thailand Adhesives and Sealants Market Research FAQs

The Thailand Adhesives and Sealants Market is projected to register a CAGR of 6.02% during the forecast period (2024-2029)

Henkel (Thailand) Ltd, Selic Corp Public Company Limited, H.B. Fuller (Thailand) Co. Ltd, Covestro AG and Bostik (Arkema Group) are the major companies operating in the Thailand Adhesives and Sealants Market.

The report covers the Thailand Adhesives and Sealants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Adhesives and Sealants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Thailand Adhesive Industry Report

Statistics for the 2024 Thailand Adhesive market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Adhesive analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Thailand Adhesive Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)